Addition made on Account of Sundry Creditors Balance due to Improper Explanation on part of Assessee: ITAT Directs Re-adjudication [Read Order]

Addition made on Account of Sundry Creditors Balance - ITAT Directs Re-adjudication - Re-adjudication - ITAT - Sundry Creditors Balance - taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the addition made on account of sundry creditors’ balances due to improper explanation on the part of the assessee.  Rajendra Supadu Jadhav, the appellant assessee was an individual engaged in the business of manufacturing and trading in open gym…

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